Thailand GDP Annual Growth Rate

Thailand's gross domestic product grew by 3.3 percent year-on-year in the third quarter of 2018, following a 4.6 percent expansion in the previous period and far below market consensus of 4.2 percent. It was the weakest growth rate since the fourth quarter 2016, as net external contributed negatively to growth while government spending, investment, and private consumption continued to rise at a solid pace. GDP Annual Growth Rate in Thailand averaged 3.72 percent from 1994 until 2018, reaching an all time high of 15.50 percent in the fourth quarter of 2012 and a record low of -12.50 percent in the second quarter of 1998.

GDP Annual Growth Rate in Thailand is expected to be 4.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Thailand to stand at 3.90 in 12 months time. In the long-term, the Thailand GDP Annual Growth Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.

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Thailand Q3 GDP Annual Growth Weakest in 7 Quarters

Thailand's gross domestic product grew by 3.3 percent year-on-year in the third quarter of 2018, following a 4.6 percent expansion in the previous period and far below market consensus of 4.2 percent. It was the weakest growth rate since the fourth quarter 2016, as net external demand contributed negatively to growth while government spending, investment, and private consumption continued to rise at a solid pace.

On the expenditure side, government spending went up 2.1 percent, compared with 2 percent in Q2, as purchases of goods and services increased 4.5 percent, consumption of fixed capital and social transfers of kind rose 2.3 percent and 14.5 percent, respectively while compensations of employees fell 0.4 percent.

Gross fixed capital formation advanced 3.9 percent, faster than 3.7 percent in Q2. Public investment rose 4.2 percent, as a result of state enterprise investment (9.9 percent) and private investment grew 3.9 percent, mainly due to a 3.4 percent expansion of investment on machinery. In addition, spending on private construction expanded 5.4 percent.

On the other hand, a contraction was seen in mining and quarrying (-2.7 percent vs 0.9 percent); public administration and defence (-1.0 percent vs -0.9 percent), and education (-1 percent after showing no growth in Q2).

On a quarterly basis, the GDP stalled in the three months to September, following a downwardly revised 0.9 percent growth in the previous period and missing market consensus of a 0.6 percent expansion, It was the weakest quarterly reading since a contraction in the first quarter 2014.

Considering the first three quarters of the year, the economy expanded by 4.3 percent year-on-year, compared to a 4.0 percent expansion in the same period of 2017

For 2018, the NESDB revises its economic growth forecast to 4.2 percent from 4.2-4.7 percent, with exports seen up 7.2 percent, 4.7 percent of private consumption and 3.6 percent of total investment.

Thailand Q2 GDP Annual Growth Beats Estimates
Thailand's gross domestic product grew by 4.6 percent year-on-year in the second quarter of 2018, following an upwardly revised 4.9 percent expansion in the previous period but beating market consensus of 4.5 percent. Government spending rose at a slower pace while investment, private consumption, and exports continued to increase at a solid pace.
Published on 2018-08-20

Thailand Q1 GDP Growth Strongest in 5 Years
Thailand's gross domestic product grew by 4.8 percent year-on-year in the first quarter of 2018, following a 4 percent expansion in the previous period and beating market consensus of 4 percent. It was the strongest growth since the first quarter 2013, as government spending, investment, and private consumption rose at faster paces.
Published on 2018-05-21

Thai Q4 GDP Growth Slows to 4%
Thailand's gross domestic product grew by 4 percent year-on-year in the fourth quarter of 2017, following a 4.3 percent expansion in the previous period and below market consensus of 4.4 percent. Government spending and investment rose at softer paces while private consumption and exports grew firmly.Published on 2018-02-19

Thailand Q3 GDP Growth Strongest in 4-1/2 Years
Thailand's GDP advanced 4.3 percent year-on-year in the September quarter of 2017, compared to an upwardly revised 3.8 percent growth in the previous period and beating market consensus of a 3.8 percent growth. It was the strongest expansion since the first quarter 2013, boosted by faster rises in private consumption, government spending, investment and exports.Published on 2017-11-20

Thailand GDP Annual Growth Rate

Thailand is an export oriented emerging economy. As a result, manufacturing is the most important sector and accounts for 34 percent of GDP. Services constitute around 44 percent of GDP. Within services, the most important are wholesale and retail trade (13 percent of GDP); transport, storage and communication (7 percent of GDP); hotels and restaurants (5 percent of GDP) and public administration, defense and social security (4.5 percent of GDP). Agriculture also makes a significant contribution - around 13 percent of GDP. This page provides - Thailand GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Thailand GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on January of 2019.